Money Saving Expert Martin Lewis has shared some of the tips people are using to try and save money amid the cost of living crisis.
The personal finance expert has put together an extensive guide to help people make the most of their money and cut costs where possible, including crowdsourced responses from his many followers.
Many followers shared tips on how to save money when it came to electricity and water usage, including tips on saving money when washing clothes and having hot drinks on the cheap.
When it came to washing clothes, one savvy saver said she keeps an eye on the weather so that she can dry her clothes outside, rather than use a washing machine.
Suggesting a few ways she saved money, one of Martin’s followers said: “If you use your oven, use it to cook multiple things/meals then freeze the ones you don’t need and reheat in the microwave.
“Shorten your wash cycles, use the rapid wash on your machine and not the longer ones. Watch the weather report. Sun due out, washing goes in the day before.”
Another follower then asked her which cycle on a washing machine is the right one to use to save a bit more energy. She replied: “Rapid works fine and I think is cheaper. Pre-soak big stains in cold water before washing.”
Another added: “I’ve used the quick wash for years. Never had a problem.
“As I live alone I invested in a combi microwave oven so I don’t need the big one. Use lids on pans and turn gas/electricity down. Close doors and make door sausages for every room.”
One money saver said that boiling water once, then storing it in a flask, instead of re-boiling every time you want a drink, is one way to cut down electricity use.
She even advised people to “forage” wild foods including nettles for soup.
The money saver said: “Boil water for hot drinks once a day and save the rest in a flask to save electricity. Forage food (made nettle tagliatelle, nettle and potato soup, dandelion flower jam etc during hard times).”
One also said that they go as far as putting their Wi-Fi router on a timer, so it isn’t on overnight, writing: “Obviously you can’t do much about your fridge, but how about that 35w WiFi router costing £100 in electricity per year? A £5 plug-in timer, switching it off 8 hours overnight, would payback in a month!”
However, in the introduction to Martin Lewis’ money saving guide – which includes 90 ideas on how to cut costs, the finance expert stressed that while tips to save money can be useful, they aren’t the answer for everyone, especially if you’re already on a low income and have cut back where you can.
Martin wrote: “On 1 April, the 54% rise in the energy price cap hit 22 million homes, a desperate, typical £700/year increase – catastrophic for those with the lowest incomes.
Yet the pain stretches far further – when combined with all the other price rises, we will see a material drop in the standard of living for most on low to middle incomes.
“For some there is sadly no route to cut expenditure below income; that fix will need political intervention. For others, we need a collective endeavour, to work together to take financial pressures off where we can. And that is partly behind this guide.”
Other tips included things such as using a heated blanket instead of turning on the heating, using a slow cooker instead of the oven and making sure you’ve applied to all benefits and discounts you might be entitled to.
Martin recently warned that anyone with a household income of less than £30,000 should check what help they may be entitled to, as they could be in for a surprise.
You’ll have to go online for around 10 minutes to see if you’re eligible and there’s no time like the present, given the rise in energy prices recently.
Martin took to Twitter and said: “Do you have total (family) income under £30,000? If so and you don’t get any benefits, it is worth ten minutes on our free benefits calculator… to see if you’re missing out on entitlements. I’m NOT saying all will be due, just it’s worth the time to check.”
It has been estimated that a whopping seven million families are actually missing out on unclaimed benefits.
For the latest lifestyle news and money saving tips, sign up to OK!’s daily celebrity newsletter.
Source: Read Full Article